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, ceo and cofounder. we always love when people come back to the united states. so far you have just begun the process. talk about you do and why you chose china as a place to do it. you do led lighting. how long were you in china and why did you choose to go there originally? >> well, first of all, thanks for having me, dave, liz. we chose to go to china, we first opened in 2007 in china. we did a lot of engineering stuff over there because the costs were obviously a lot cheaper. and really what we concentrated on in 2000 was expanding there quite a bit. since, since 2009 we've really, we've really looked at our costs and even though it is a lot cheaper for to us manufacture products in china we've done the proper social thing about bringing businesses back to the u.s.. david: so tell us, first of all exactly how much of a loss, i mean, essentially you are going to be paying more by higher labor costs, will you not, coming into the united states? >> yeah, we're paying more but you know, there is field expenses too have that gone up which makes china knot appealing to us and also the
together since both the united states federal reserve and the bank of japan lored interest rate policy and put in additional stimulus in the global economy. last night silver and gold cracked, and there were a lot of people shaking their heads as to why the metals cracked, and there is perhaps talk out there there were large derivative positions out there that perhaps silver gets above $36 an ounce, you could see a large short covering trade. so be careful. but the fact that gold and silver cracked in this global, aggressive central bank easing campaign doesn't make sense either. david: no, no. of course, it was a crack. it may come back. john, we're going to be talking more to you when the s&p futures close in just about ten minutes. thank you, john. liz: thanks john. let's bring in maury, chief investment officer of relative value partners and david steinberg. both these gentlemen a lot of experience in the markets and a lot of money that they work with. david, you're a bit more optimistic right now, and as we look at the s&p 500 which is certainly up over the past year, pretty stron
the past two years the united states increased its production of crude oil and natural gas liquids by 1.3 million barrels a day. by the end of this year it may be two million barrels a day. that is on a base of five. david: that is enough to move the price in the market? >> that is i am men's. it can -- immense. it can move the price in the market. liz: meaning more energy jobs available. what are the numbers? the obama administration said 600, 700,000 jobs could be created. do you feel that is a ballpark figure? >> that the number for natural gas, 600,000 is for natural gas. oil is probably another two million jobs. combination of these two technologies can bring back more than a third of the jobs that were lost in the great recession. liz: but there would be training involved. just doesn't happen instantaneously, does it? >> no. it happens over time, over two, three, 4-year period. but if you look at the united states economy overall, for every 100, $115,000 of gdp we get one job in this country. for every million barrels of oil you import, you don't, you save, for five million barrel
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